SAO PAULO (Reuters) – Meals retailer Carrefour (EPA:) Brasil has agreed to promote 15 properties to an actual property fund for 725 million reais ($127.4 million), it stated on Tuesday.
The Brazilian unit of French retailer Carrefour will then lease again the properties from the fund, Guardian Real Estate, for no less than 13 years so they continue to be as shops from its main model Atacadao, it stated in a securities submitting.
Carrefour Brasil stated it expects the deal to shut this yr, including it is going to pay some 4.8 million reais monthly in lease.
“The transaction is aligned with Grupo Carrefour Brasil’s strategy to unlock value from its real estate portfolio,” the agency stated within the assertion.
Earlier within the day, newspaper Valor Economico reported, citing sources, that Carrefour Brasil was in talks to promote a complete of 65 shops from its Bom Preco and Nacional manufacturers.
In response to Valor, Carrefour Brasil had employed financial institution Bradesco BBI to advise on the talks, and was planning to promote shops in addition to some actual property properties.
Carrefour Brasil didn’t instantly reply to a request for remark outdoors of regular enterprise hours.
SALES GROW
The corporate additionally reported on Tuesday whole product sales of 29.5 billion reais within the quarter led to September, up practically 5% from a yr earlier, pushed by an 8% improve in gross sales at Atacadao shops.
Similar-store gross sales at Atacadao, which operates a hybrid wholesale format, grew nearly 6% from a yr earlier, with out changes for calendar results, in response to the preliminary gross sales report.
Carrefour Brasil is anticipated to launch audited third-quarter earnings on Oct. 31.
($1 = 5.6901 reais)
